Private company

GAN Ltd

We offer marketing and customer services to our casino operator customers to support their deployment of our RMiG and SIM solutions.3 From its latest annual report

Last updated Oct 19, 2026.

Overview

  • IndustryServices-Computer Programming, Data Processing, Etc.1
  • HeadquartersIrvine, California1
  • Incorporated inBermuda2
  • Business address400 Spectrum Center Drive, Suite 1900, Irvine, Ca 926182
  • Filer category, Emerging growth company2

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We offer marketing and customer services to our casino operator customers to support their deployment of our RMiG and SIM solutions.3 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2024

-2.7%Operating margin4
-5.9%Net margin4
4.3%Revenue growth, 20244
$5.3MFree cash flow4

Where the money goes

Where each dollar of revenue went, fiscal 2024

  • Other costs100¢$134.7M
  • Income tax0¢$275.0K

Out of $135.0M in revenue.4 The company lost money this year.

Where each dollar of operating cash went, fiscal 2024

  • Capital spending9¢$536.0K
  • Kept or used elsewhere91¢$5.3M

Out of $5.8M of cash from operations.4

Financial statements

Revenue5674$135.0M in 2024+284% since 2020
0$50.0M$100.0M$150.0M2020: $35.2M$35.2M20202021: $124.2M$124.2M2021+253%2022: $141.5M$141.5M2022+14%2023: $129.4M$129.4M2023−9%2024: $135.0M$135.0M2024+4%
Operating income5674-$3.6M in 2024−82% since 2020
-$200.0M-$150.0M-$100.0M-$50.0M02020: -$19.5M-$19.5M20202021: -$31.2M-$31.2M2021+60%2022: -$192.5M-$192.5M2022+517%2023: -$30.3M-$30.3M2023−84%2024: -$3.6M-$3.6M2024−88%
Net income5674-$8.0M in 2024−61% since 2020
-$200.0M-$150.0M-$100.0M-$50.0M02020: -$20.2M-$20.2M20202021: -$30.6M-$30.6M2021+51%2022: -$197.5M-$197.5M2022+546%2023: -$34.4M-$34.4M2023−83%2024: -$8.0M-$8.0M2024−77%
Fiscal year201920202021202220232024
Revenue$35.2M5$124.2M6$141.5M7$129.4M4$135.0M4
Operating expenses$155.4M6$334.0M7$159.7M4$138.6M4
Operating income-$19.5M5-$31.2M6-$192.5M7-$30.3M4-$3.6M4
Interest$395.0K5$2.0K5
Income before tax-$30.8M6-$193.6M7-$34.3M4-$8.2M4
Income tax$353.0K5-$211.0K6$3.9M7$138.0K4-$275.0K4
Net income-$20.2M5-$30.6M6-$197.5M7-$34.4M4-$8.0M4
Earnings per share-$0.736-$4.667-$0.784-$0.184
Earnings per share (diluted)-$4.667-$0.784-$0.184
Shares (weighted, basic)42.0M shares642.4M shares744.2M shares445.4M shares4
Shares (weighted, diluted)42.4M shares744.2M shares445.4M shares4

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Leadership

Who has led GAN Ltd, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Dermot S. Smurfit2021–2023
  2. Glenn Anders Karlsen2021–2022
  3. Seamus M. McGill2023–now

President

  1. Dermot S. Smurfit2021–2023
  2. Glenn Anders Karlsen2022
  3. Endre Nesset2022–2023
  4. Giuseppe Gardali2023–now

Chief financial officer

  1. Karen Flores2021–2022
2025
Board members and other officers (12)

Timeline

  1. Oct 6, 2023New chief executive Seamus M. McGill becomes CEO11
  2. Nov 30, 2021New chief executive Glenn Anders Karlsen becomes CEO13
  3. Jan 4, 2021New chief executive Dermot S. Smurfit becomes CEO12

Filings

223 filings to the SEC since October 2021: 5 annual reports, 14 quarterly reports, 46 major events, 119 insider forms, 3 large holders, 36 other. The latest 20:

  1. Jun 9, 202515-12G EDGAR
  2. May 30, 2025EFFECT EDGAR
  3. May 28, 2025POS AM EDGAR
  4. May 28, 2025S-8 POS EDGAR
  5. May 28, 2025S-8 POS EDGAR
  6. May 28, 2025S-8 POS EDGAR
  7. May 28, 2025S-8 POS EDGAR
  8. May 28, 2025POSASR EDGAR
  9. May 27, 20254 EDGAR
  10. May 27, 20254 EDGAR
  11. May 27, 20254 EDGAR
  12. May 27, 20254 EDGAR
  13. May 27, 20254 EDGAR
  14. May 27, 20254 EDGAR
  15. May 27, 20254 EDGAR
  16. May 27, 20254 EDGAR
  17. May 27, 20254 EDGAR
  18. May 27, 20258-K EDGAR
  19. May 19, 20258-K EDGAR
  20. May 9, 20254 EDGAR

The 223 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

12 open-market trades by officers, directors and large owners since October 2021: 5 buys and 7 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 1, 2022MCGILL SEAMUS MChief Executive OfficerBuy5,000$2.51$12.6KForm 4
Aug 30, 2022Smurfit Dermot S.President, CEOSale150,000$2.70$405.0KForm 4
Aug 29, 2022Smurfit Dermot S.President, CEOSale100,000$2.90$290.0KForm 4
Aug 23, 2022Flores KarenEVP, Chief Financial OfficerBuy6,500$2.97$19.3KForm 4
May 19, 2022MCGILL SEAMUS MChief Executive OfficerBuy5,000$3.32$16.6KForm 4
Nov 22, 2021Karlsen Glenn AndersPresident B2CBuy10,000$10.90$109.0KForm 4
Nov 19, 2021MCGILL SEAMUS MChief Executive OfficerBuy10,000$10.85$108.5KForm 4
Nov 17, 2021Smurfit Dermot S.President, CEOSale155,414$12.24$1.9MForm 4
Nov 16, 2021Smurfit Dermot S.President, CEOSale2,402$13.00$31.2KForm 4
Nov 15, 2021Smurfit Dermot S.President, CEOSale42,184$13.18$556.0KForm 4
Oct 21, 2021Smurfit Dermot S.President, CEOSale6,439$16.50$106.2KForm 4
Oct 20, 2021Smurfit Dermot S.President, CEOSale250$16.50$4.1KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

  • Roger M. KleinSC 13G, 1 filing Jul 16, 202428
  • Antara Capital LPSC 13G/A, 2 filings Feb 14, 2023 to Feb 14, 202429

Sources

The numbers on this page point here. Each one links to the record it came from.

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